Royce Small-Cap Trust, Inc. (NYSE:RVT) Short Interest Down 28.7% in March

Key Points

• Short interest fell 28.7% to 390,677 shares as of March 13, representing 0.3% of shares outstanding and a days-to-cover ratio of about 1.4 days.
• The company announced a quarterly dividend of $0.30 (annualized $1.20), with an ex-dividend date of March 12 and a payment date of March 30, implying a ~7.4% yield.
• Insider purchase: President Christopher D. Clark bought 4,500 shares at about $16.69 on March 24, increasing his holdings to 47,235 shares (a 10.53% increase); insiders overall own 0.08% of the stock.

Royce Small-Cap Trust, Inc. (NYSE:RVT - Get Free Report) was the target of a significant decrease in short interest in March. As of March 13th, there was short interest totaling 390,677 shares, a decrease of 28.7% from the February 26th total of 548,009 shares. Currently, 0.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 281,636 shares, the days-to-cover ratio is currently 1.4 days.

Royce Small-Cap Trust Price Performance

RVT stock traded down $0.29 during trading on Friday, reaching $16.12. The company had a trading volume of 154,173 shares, compared to its average volume of 243,878. Royce Small-Cap Trust has a 52 week low of $12.12 and a 52 week high of $18.73. The business has a 50 day moving average of $17.54 and a 200 day moving average of $16.64.

Royce Small-Cap Trust Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Thursday, March 12th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.4%. The ex-dividend date is Thursday, March 12th.

Insider Activity at Royce Small-Cap Trust

In related news, President Christopher D. Clark acquired 4,500 shares of the firm's stock in a transaction dated Tuesday, March 24th. The shares were purchased at an average price of $16.69 per share, for a total transaction of $75,105.00. Following the completion of the acquisition, the president owned 47,235 shares in the company, valued at approximately $788,352.15. This represents a 10.53% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.08% of the company's stock.

Hedge Funds Weigh In On Royce Small-Cap Trust

A number of institutional investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC grew its position in shares of Royce Small-Cap Trust by 5.8% in the 1st quarter. NewEdge Advisors LLC now owns 53,335 shares of the financial services provider's stock worth $759,000 after buying an additional 2,919 shares during the period. Jane Street Group LLC purchased a new stake in Royce Small-Cap Trust in the first quarter worth about $186,000. Cetera Investment Advisers increased its stake in shares of Royce Small-Cap Trust by 7.4% during the second quarter. Cetera Investment Advisers now owns 36,282 shares of the financial services provider's stock valued at $546,000 after purchasing an additional 2,494 shares in the last quarter. Colonial Trust Advisors purchased a new position in shares of Royce Small-Cap Trust during the second quarter valued at approximately $53,000. Finally, Walleye Capital LLC bought a new stake in shares of Royce Small-Cap Trust in the 2nd quarter worth approximately $775,000. Institutional investors own 25.57% of the company's stock.

About Royce Small-Cap Trust

Royce Small-Cap Trust NYSE: RVT is a closed-end management investment company that seeks to provide investors with long-term capital appreciation by investing primarily in the common stocks of small-capitalization companies. The trust is structured to trade on the New York Stock Exchange, offering shares that represent an undivided interest in a diversified portfolio of U.S. small-cap equities. As a closed-end vehicle, the fund may employ leverage to enhance returns and reinvest dividends to support growth over time.

The trust’s investment strategy is driven by fundamental, bottom-up research, focusing on companies with market capitalizations typically falling within the small-cap spectrum.

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